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Robert N. Tricarico was sentenced Wednesday by U.S. District Judge Michael P. Shea in Hartford to 41 months in prison, followed by three years of supervised release, according to U.S. Attorney Deirdre M. Daly.
Shea also ordered Tricarico to pay restitution in the amount of $1,220,763.90.
Until April 2015, Tricarico was a registered securities broker with the Financial Industry Regulatory Authority. He was formerly employed or associated with various financial firms, including RNT Wealth Management, Northstar Wealth Partners, LPL Financial, and Wells Fargo Advisors Financial Network.
According to court documents and statements made in court, from January 2010 to June 2013, he acted as a financial adviser for an elderly and infirm victim who had substantial assets.
Tricarico misappropriated more than $1.1 million from the victim by writing numerous checks to himself or for his benefit without the victim’s authorization. He also liquidated a coin collection belonging to the victim and misappropriated checks made payable to the victim. Tricarico used the stolen funds to make personal expenditures.
He also defrauded two additional victims of $20,000 by falsely representing to them that he would use their investments for a business venture and guaranteed a rate of return. In fact, Tricarico used the victims’ funds for his own personal use.
On June 16, he pleaded guilty to one count of wire fraud.
At the conclusion of Wednesday’s sentencing, Tricarico, who had been released on bond, was remanded to the custody of the U.S. Marshals Service to begin serving his prison sentence.
This case was investigated by the FBI with the assistance of the Greenwich Police Department and the Connecticut Department of Banking. The case was prosecuted by Assistant U.S. Attorney David T. Huang.
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